Fri, Jul 17th, 2009
NEW YORK--(Dow Jones)--Bank of America Corp. (BAC) and Citigroup Inc. (C) both managed to squeeze out second quarter profits, despite stark signs of looming heavy losses from commercial loans, especially for regional banks.
The two mammoth banking firms were helped by hefty gains from trading and investment banking, and both also booked billions in income during the quarter by selling investment stakes and assets.
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US Lawmakers Spread Blame On Bank Of America/Merrill Deal
Jul 11th, 2009 - CNNMoney
WASHINGTON -(Dow Jones)- U.S. House lawmakers lambasted former TreasurySecretary Henry Paulson and Bank of America Corp. (BAC) Chief Executive KennethLewis on Thursday...
Paulson to Defend Handling of Merrill Lynch, Bank of America Merger
Jul 11th, 2009 - Washington Post
Former Treasury secretary Henry M. Paulson Jr. plans to tell a House committee tomorrow that the government acted appropriately in holding together the merger of Merrill Lynch and Bank of America...
Bank of America to offer financing for Roadsters
Jul 11th, 2009 - BusinessWeek
Tesla Motors said Tuesday that Bank of America will provide financing for purchases of its all-electric Roadster sports car. Tesla said it expects the financing option to make the Roadster affordable for a larger number of people. For example...
More banks refuse California IOUs
Jul 11th, 2009 - UPI.com
SACRAMENTO, July 11 (UPI) -- Four major banks, including Bank of America Corp., say they stopped accepting IOUs Saturday from the cash-strapped state of California.Bank of America...
California's creditors look to options for IOUs
Jul 11th, 2009 - Forbes.com
Thousands of vendors who do billions of dollars of business with the state of California are scrambling as major banks say they will no longer honor the state's IOUs. Despite pressure from the state treasurer...
Related videos from YouTube:
- Bank of America Walkoutroydeyoung.typepad.com If you are like me, you are concerned, frustrated, and a bit confused that Bank of America has been allowed, and enabled, by the US government to suck the life out of our financial system ...
- Regional Banks Add Up, Says...Jim gives his simple calculation for valuing the next regional bank acquisition. TheStreet.com
- Labor Beat: Republic Workers...Scenes and interviews from the powerful workers' protest at Bank of America Center in Chicago's financial district on Dec. 10, 2008. This protest represented a culmination of labor and community ...
- 1000 Banks to Fail In Next...Source: CNBC The US banking system will lose some 1000 institutions over the next two years, said John Kanas, whose private equity firm bought BankUnited of Florida in May. Weve already lost 81 this year, he told CNBC ...
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